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Senior Advisor

Hobby --- Hobby ---Hobby !

Have you been holding out on us here ?????????  You have been posting about these road trips you have been takeing of late AND then I read that there was a land rental auction in Thurman IA oon Nov.10th , wasn't ths about the time of SOME of your Trips ?

 

Anyway 1170 acres up for bid .

 

Tract 1 , 196@ --alll tillable = $ 545 per@

 

Tract 2 --  296 all tillable  = $470 @

 

Tract 3 ---  296 all tillable = $520 @

 

Tract 4 --- 104  all tillable = $485 @

 

Tract 5 --- 417 all tillable , with some storage = $ 615 @

 

Now for the good part !

 

Terms , for 2013 / 25% paid day of auction - remainder due March 1

 

Terms for 2014 /  25% due Jan.1 2014 --- remainder due March 1 / 2014

 

So Hobby did you get it all ?

 

BTW I can't believe you didn't tell me about this when we just talked !   

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Honored Advisor

Re: Hobby --- Hobby ---Hobby !

Sorry 'ol man the subject just never came up. Just thought it would sound like bragging.

200 bu corn @ $7 and that is about right. Might even be a little low of fair?

 

Suppose I'll have to change my screen name now?

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Senior Contributor

Re: Hobby --- Hobby ---Hobby !

Tract 5, $615/acre. I would hope that this Iowa land has a Corn Suitability Rating/CSR of 90+ and is pattern tiled for that price. $615/acre is one of the higher cash rates I have heard about, $500/acre for 80 CSR rated dirt is now very common in Northern Iowa. However, many Iowa farmland owners know with current corn prices they can make more money by Custom Farming there farmland than just cash-renting it out. Yes, Custom Farming requires around a $600/acre total cost for the Custom Farming fee and the corn input cost, plus the crop insurance cost, and is a more of a gamble, but the Return on Investment Ratio is generally better than the ROI Ratio of cash-renting your farmland. Guess the Custom Farming vs Cash Rent all depends on the landowners comfort level on the risks involved in Custom Farming over the risks for cash-renting, which are pretty much zero, if you get 50% of the cash rent at planting and 50% at harvest, and have a lien on the corn crop to cover the 50% cash rent due at harvest if the tennet can't cover this 50% due at harvest. It is almost unheard of a Iowa cash rent tennet not making the 50% cash rent payment at harvest. If he tries to skip out on that, the word gets around very quickly to other farmland investors and no one would ever rent to him again.

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Senior Advisor

Re: Hobby --- Hobby ---Hobby !

Rsw........NO ONE CARES.........you act like your the only one thats heard of csr..........i am calling you out........i think you are a phony.........all you do is recite a bunch of bullet points that someone else came up with.........

 

And i bet this will blow your mind........ground south of 80 that has csr's in the 30 to 60 range.......was renting for right at 500/acre/year for three years.........and guess what.....it can raise 0 or 240 bushel corn......

 

Take a hike you big freakng phony...

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Advisor

Re: Hobby --- Hobby ---Hobby !

ECI - I do not know how to tell you this but . . . I visited the Hobby Ranch this Summer and viewed the soybean and corn crops, best I had seen anywhere in Iowa.

 

  I imagine hobby scored big this year with those big yields, and probably just prepaid 100% of the rent on these farms for the next two years, so he could try and just write off the rents this year against his big score.   Needless to say, he will not be competing with any of the contestants for the "under achieving farmer" of the year award.  

 

I think it is a trait most Southern Iowa Farmers have, they just do not want to draw attention to their achievements nor have they had time like the Northern Iowa Farmers to sit around the Co-op or coffee shop and whine about grain prices, and country club dues.

 

I am sure if you want to rent a few thousand acres South of I-80 at $500 an acre plus hobby's 10% commission, he can line you up with it so you can have the opportunity of sharing the fantasy of farming in Southern Ioway.   lol. John    

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Honored Advisor

Re: Hobby --- Hobby ---Hobby !

http://maps.google.com/maps?rlz=1T4ACEW_en___US384&q=Thurman+IA&um=1&ie=UTF-8&hq=&hnear=0x8794600b7a...

 

 

Thurman is right on the edge of the Missouri River bottom and Loss hills (mountians). Was in Thurman last year at the highth of the flooding and the interstate was under water but there was some great crops just above waterline even last year. As I am a bottom land farmer in SW Iowa it just seemed a natural fit.

Great markets there compaired to here. St Joe, Mo is just down the Interstate, Gavilon Grain has a large brand new unit train loading facility just a few miles away and Bunge West is just a 15min drive up I29. Pretty easy to gross up to $50  an acre more there than here in South Podunk country.

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Honored Advisor

Re: Hobby --- Hobby ---Hobby !

BTW: just for legal disclosure....I did not rent it.

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Senior Contributor

Re: Hobby --- Hobby ---Hobby !

Well Tiger, I would prefer to keep our discussions on a business level and not resort to name calling. I have done absolutely nothing to you, but if it gives you pleasure to call me names that is fine. Anything that you say to me can't even come close to what people called me in 1986 when I was going to Iowa farmland auctions of bankrupt Iowa farmers and buying there land for as little as $11 per CSR Point or $1,000/acre. Yes, your name-calling would need to be 100 times worse than what you just said to me compared to the names I was called after buying some of this farmland under the Bank Bankruptcy Firesales during the 1986 to 1989 time period of the farm crisis. 33% of all Iowa farmers went bankrupt during the farm crisis years and many. many lost farmland that had been in there family for over a 100 years. So your name-calling needs to be much worse to be on par what these guys and there wife's called me at these bankruptcy farmland sales between 1986 and 1989. I have been called every name in the book. But all these farmers that lost there farms during the farm crisis years really have no one to blame but thereselves, they just plain didn't watch there Debt to Asset Ratio, along with that all very important Cash Flow Balance sheet for there farm operation. I didn't cause them to go bankrupt and the farm banks had no choice but to sell off there assets to try and collect something on there farm loans. And when you can buy top-quality Iowa farmland for just $11 per CSR Point and cash rent it out or even put it in the CRP Farm Program and get a Return on Investment Ratio of over 14% with absolutely no risk, and not even counting the 75 year historical farmland appreciation rate of 6%, this works out to a total long-term ROI figure of 20%. You would have to be an absolute idiot not to look at this type of investment, not to many had a 20% ROI Figure in the mid-late 1980's. Anyway, I would like to keep the name-calling down to a Minimum, it really has no place on a farm discussion board, we should be talking about things that can increase our farm operations all important Return on Investment Ratio, after all, this Ratio tells you how good you are doing as a Farm Manager. Just like getting grades when we were in High School. Again, I would prefer you not to call me bad names, but if you prefer to do so, there is nothing I can do about it. However, myself, I will not resort to this type of behavior, I feel all posters on here have something good to say and may have an idea/opinion that you and I had not thought of, and again this may help us improve our farms Return on Investment Ratio, and that Ratio is very, very, important for most posters on this discussion board.

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Senior Advisor

Re: Hobby --- Hobby ---Hobby !

Thank you for proving my point.........a big long paragraph of nothing........if phony doesnt set well with you......then how about empty tin can........

 

And fyi......im going to blow your mind again.......how about $5 per CSR.............

 

Again, take a hike......

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Senior Contributor

Re: Hobby --- Hobby ---Hobby !

And Tiger, I find it very hard to believe that 30 CSR Dirt would rent for $16.66 per CSR Point. Top-quality farmland in Northern Iowa only rents for $6.25 per CSR Point. If you south of I-80 Iowa guys are paying $16 per CSR Point for cash rent vs $6.25 per CSR Point in Northern Iowa, I would have to say you boys are being taken to the cleaners. These farmland owners are really taking you for a ride. Tell you what, I will rent all my 1,500 acres of Northern Iowa 80+ CSR land to you for only $10 per CSR Point, $6.66 per CSR Point less than what you are currently paying. And I mean that, you can have all my 1,500+ acres for a cash rent of only $10 per CSR Point, this is all 80+ CSR dirt with a 220bu yield with normal weather, plus it is all very well tiled/drained. As you know, CSR and farm drainage are probably the most important things when it comes to figuring out a farm production corn yield. Even if you have 90 CSR Dirt, but poor drainage, your corn turns that oh so nice yellow color and suffers a 50% yield loss.

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